Stocks to Watch Today, Wednesday, September 9, 2026: Coforge, Rays of Belief, Enviro Infra Engineers, Biocon, Shadowfax Technologies

Mumbai, Sept 9: Here are five stocks making news on Wednesday, from a boardroom upheaval at Coforge after an internal audit flag to a fresh batch of block deals at Rays of Belief, Biocon and Shadowfax Technologies. Meanwhile, a subsidiary of Enviro Infra Engineers has bagged an EPC order worth Rs 189.99 crore.

Coforge: Chairman O P Bhatt resigns after internal audit flags board evaluation gaps 

Mid-caps IT services provider Coforge said on Wednesday that O P Bhatt has resigned as Non-Executive Independent Director and Chairman of the Board with immediate effect. This follows issues raised by the company’s internal audit over board evaluation process undertaken recently. “The internal auditor reviewed the processes adopted for conducting the Board Evaluation Exercise and the resultant Board Evaluation Report as part of the internal audit plan for Q2 FY26,” Coforge said in a regulatory filing. The board evaluation exercise was conducted under Bhatt’s stewardship. 

The audit noted gaps in the process followed and disclosures made relating to the board evaluation process, including information on the performance evaluation of the chairman. Bhatt’s resignation may draw investors’ attention towards the governance aspect at the software services firm. 

Rays of Belief: Four investors pick up 5.26% stake via block deals 

Four investors purchased a combined 5.26% stake in Rays of Belief, the parent of MOM’s Belief, which offers personalized intervention and therapy plans to families of children with neurodevelopmental disorders. Sachchiyay Stock Broking picked up 2.75 lakh shares at Rs 6.57 crore, while Capacious Wealth Management LLP bought 2.25 lakh shares at Rs 5.37 crore. Santosh Bhansali HUF bought 1.9 lakh shares at Rs 4.54 crore, while Pragya Mercantile purchased 4.1 lakh shares for Rs 9.8 crore. Longthrive Capital VCC – Trendview Capital Fund sold 1.43 lakh shares in Rays of Belief worth Rs 3.42 crore. The buying and selling prices of the shares were Rs 239 each.  

Enviro Infra Engineers: Subsidiary bags Rs 189.99-crore wind power EPC order 

Enviro Infra Engineers subsidiary Suyog Urja bagged an order worth Rs 189.99 crore from Tata Power Renewable Energy Limited. This is for the execution of electrical and mechanical contracting (EPC) turnkey works related to setting up of 180 MW NTPC Wind Power Project at Parli Wind Farm in Maharashtra. The order pushes ENVINFRA Engineers further into infrastructure related to renewable energy generation. While the company’s core business is focused on water and wastewater treatment plants, recently it has also bagged large clean energy EPC contracts.  

Biocon: True North-backed Active Pine likely to sell 1% stake via block deal 

True North-owned Active Pine is set to sell up to 1.66 crore shares or around 1 per cent stake in Biocon via a block deal, said CNBC-TV18, quoting people aware of the development. The offer size would be Rs 638.4 crore, while the floor price is at Rs 385 per share. The completion of the deal would result in partial exit of the private equity firm from Biocon, the leading biopharmaceutical company. 

Shadowfax Technologies: Newquest trims stake further as Oxbow adds to its holding 

TPG-backed Newquest Asia Fund IV (Singapore) sold 80 lakh shares, which is 1.36 per cent of the paid- up equity in Shadowfax at Rs 250.03 per share on Tuesday. However, Hong Kong-based Oxbow Capital Management-backed Oxbow Master Fund bought 47.85 lakh shares, which is equivalent to 0.81 per cent stake in Shadowfax Technologies. The price paid by Oxbow Master Fund is Rs 119.6 crore at Rs 250 per share. With the latest sale by Newquest, the erstwhile investor has pared almost 3.5 per cent stake in Shadowfax in the current quarter as its holding has come down to 8.03 per cent from 11.53 per cent as of June 20, 2026. Meanwhile, shareholding of Oxbow Master Fund has risen to 2 per cent post the transaction on Wednesday which also includes purchase of 1.18 per cent stake on August 6, 20 26. 

Broader Read 

Wednesday’s triggers span a governance-related leadership change at Coforge, a cluster of block deals across Rays of Belief, Biocon and Shadowfax Technologies, and an EPC order win for Enviro Infra Engineers, a mix of company-specific developments for investors to weigh even as the broader market looks to open on a firmer note. Gift Nifty futures were trading around 23,650, up 12 points or 0.05 per cent, as of early Wednesday morning, pointing to a mildly positive start after the Nifty 50 fell 144.05 points to close at 23,635.10 on Tuesday. Elevated crude near $94-99 a barrel amid an escalating Iran-US conflict, alongside a mixed Asian market session, is likely to keep sentiment cautious through the session even as chip-led optimism offers some support. 

Source

•  Company filings
• BSE
• NSE
• Business media reports